THE 2021 ECONOMIC REPORT. THE 2019-20 SEASON AT A GLANCE.

Key figures from a Bundesliga and Bundesliga 2 season that was dominated by the outbreak of the coronavirus pandemic from matchday 26 onwards.

is the revenue generated by the 18 Bundesliga clubs €3.8 bn in the 2019-20 season. €194.7 mn is the amount invested in youth development by the professional clubs in the 2019-20 season – an increase of around €8 million on the previous season. €726 mn is the revenue generated by the 18 Bundesliga 2 clubs in the 2019-20 season.

€1.4 bn is the aggregate amount of taxes and duties paid to the financial authorities and social security institutions by the 36 professional clubs in the 2019-20 season.

52,786 people were employed either directly or indirectly in the Bundesliga or Bundesliga 2 during the 2019-20 season. GERMAN LICENSED FOOTBALL.

02 Christian Seifert, 02 Speaker of the DFL FOREWORD Executive Committee

06 Structure and financial organisation 04 08 Financial situation of German licensed OVERVIEW football

ECONOMIC FIGURES.

17 Balance sheet 18 Income statement 20 Results and indicators 21 Ratio of payroll costs for match operations to total revenue 22 Groups by payroll costs for match 16 operations BUNDESLIGA 23 Groups by league table position

25 Balance sheet 26 Income statement 28 Results and indicators 29 Ratio of payroll costs for match operations to total revenue 30 Groups by payroll costs for match 24 operations BUNDESLIGA 2 31 Groups by league table position Amounts shown in this economic report are rounded to thousands of 33 Revenue and expenditure euros; the addition of these amounts may 34 Taxes and duties therefore result in 32 35 Jobs rounding differences. LICENSED FOOTBALL 36 Ticket sales THE 2021 ECONOMIC REPORT.

The financial situation of German licensed football. 2 2021 DFL ECONOMIC REPORT | FOREWORD

FOREWORD BY THE SPEAKER OF THE DFL EXECUTIVE COMMITTEE

Ladies and Gentlemen,

This economic report presents the cumulative key economic indicators for the Bundesliga and Bundes­ liga 2 for the 2019-20 season – a season that was dominated by the onset of the coronavirus crisis. Since early 2020, the pandemic has had and contin­ ues to have a considerable impact on all areas of society. As is common knowledge, this naturally also includes professional football, leading to concerns of a health, sporting and economic nature.

Starting from matchday 26 of the 2019-20 season, matches in both leagues had to be played without fans in the stadium. As such, it is no surprise that the total revenue of the Bundesliga and Bundesliga 2­ declined for the first time following 15 consecutive record years – by 5.7 per cent to €4.5 ­billion.

The economic impact of German professional football remains immense in terms of jobs as well 3

as its fi scal eff ect: 52,786 people were employed same time, however, it is clear that the massive either directly or indirectly in the Bundesliga or ramifi cations of the pandemic will require all of the Bundesliga 2 during the 2019­20 season, while the clubs to continue to act with absolute fi nancial 36 professional clubs paid a total of €1.4 billion in discipline and considerable foresight. taxes and duties to the fi nancial authorities and social security institutions. Yours sincerely, However, no one was prepared for the extent to which the coronavirus crisis would aff ect all areas of life, and football is no exception. The economic fi gures for the 2019-20 season refl ect the resulting loss of revenue – particularly from ticket sales for Christian Seifert matches held behind closed doors – and the chal­ Speaker of the DFL Executive Committee lenge of rapidly cutting costs that are often contrac­ tually agreed. And this is just the beginning. As this economic report goes to press, we already know that the pandemic will continue to have a signifi cant impact on society as a whole in 2021. In terms of the Bundesliga and Bundesliga 2, the economic conse­ quences include the ongoing absence of ticket sales as matches are still being played without fans in the stadium, as well as lower transfer expenses.

Over the past 20 years, German professional football has established economic foundations on which the two leagues are able to build their future. At the GERMAN LICENSED FOOTBALL OVERVIEW.

6 2021 DFL ECONOMIC REPORT | OVERVIEW OF GERMAN LICENSED FOOTBALL STRUCTURE

German licensed football consists of the 36 professional clubs, DFL e.V. and DFL GmbH. But what form does the organisational and financial framework take?

he 36 clubs and limited companies of the TBundesliga and Bundesliga 2 established the “Ligaverband” on 18 December 2000 with the aim of establishing the independence of German licensed football. In a context of increasing economic strength, constantly evolving requirements and growing interest from the public, there was a realisa- DFL GmbH is responsible for the organisation and tion that the professional clubs needed their own marketing of German professional football in order to organisation, which was then created under the create the optimum conditions in the interest of the name “Die Liga – Fußballverband e.V.”. At the 2016 professional clubs. General Assembly, the clubs voted to change the name to DFL Deutsche Fußball Liga e.V. (or DFL e.V. One of DFL GmbH’s tasks is to market the media for short). This brought the name in line with the rights to matches in the Bundesliga and Bundes­ Frankfurt-based DFL Deutsche Fußball Liga GmbH liga 2 as well as the Supercup and the relegation (or DFL GmbH for short), which has been managing play-offs nationally and worldwide on the best the business operations of DFL e.V. as a wholly possible terms. As a contracting partner of the rights owned subsidiary since its foundation. holders, DFL e.V. ultimately returns the income generated from marketing to the clubs in the The members of DFL e.V. are the clubs that receive Bundes­liga and Bundesliga 2. A major economic the appropriate licence in the respective season and factor is at play here: in the 2019-20 season, thus play in the Bundesliga or Bundesliga 2. This revenues from the marketing of media rights to 2021 economic report provides a cumulative pre­ matches in national and international competitions sentation of the key economic performance indica- alone accounted for around 39 per cent of the total tors of the clubs that played in the Bundesliga or revenue of the 36 professional clubs. The majority is Bundes­liga 2 in the 2019-20 season – the corres­ attributable to revenues from the central marketing ponding composition of the leagues can be found on of the DFL, but media revenues from DFB Cup, the back cover flap of this economic report. Champions League and Europa League are also ­included.

As an organisation fee, DFL e.V. itself receives a percentage of the national and international broad- cast revenue and of the revenue from sponsorship and group marketing – i.e. of the income generated centrally. DFL e.V. largely finances its own budget including the services provided for it by DFL GmbH. 7

THE STRUCTURE AND FINANCIAL ORGANISATION OF GERMAN LICENSED FOOTBALL.

Each club currently pays 6.25 per cent of the income generated to DFL e.V. as an organisation fee.

Income from sales of national and international 2 3 media and licence rights to 36 professional clubs of the the Bundesliga and Bundesliga and Bundesliga 2 Bundesliga 2 (here: 2019-20 season) DFL e.V. returns the income generated from sales of media and licence rights to the Bundesliga 1 and Bundesliga 2 to the clubs.

DFL Deutsche Fußball Liga e.V. with the clubs of the Bundesliga and Bundesliga 2 as members

The economic DFL GmbH is a wholly relationships between owned subsidiary for DFL e.V. and the DFB are conducting the business regulated in the operations of DFL e.V. “Grundlagenvertrag”. Deutscher and is remunerated for Fußball-Bund e.V. the services performed for DFL e.V.

4

DFL Deutsche Fußball Liga GmbH 8 2021 DFL ECONOMIC REPORT | OVERVIEW OF GERMAN LICENSED FOOTBALL

A SEASON IN THE SHADOW OF THE PANDEMIC

The 2019-20 season was dominated by the coronavirus and the fi rst suspension of match operations in the history of the Bundesliga and Bundesliga 2. As expected, this is refl ected in the cumulative economic fi gures for the two divisions, especially because the matches after matchday 26 were played without fans in the stadium. 9

n 11 March 2020, the enormous impact that Othe coronavirus pandemic was set to have on football became visible for the first time. The postponed Bundesliga match between Borussia Mönchengladbach and 1. FC Köln was scheduled for that Wednesday evening. It became a historic occasion – the first match in Bundesliga history to take place behind closed doors. At the time, the decision to hold the match at the Borussia-Park without any fans in attendance was mainly taken because the district of Heinsberg, just a few kilo- metres from Mönchengladbach, had become an infection hotspot. Instead, it became the last match medical and hygiene-related occupational health of the 2019-20 season to take place for some time. and safety concept with matchday 26 on 16 May, the remaining 163 Bundesliga and Bundes­liga 2 Two days later, the DFL Executive Committee initially matches and the four relegation play-offs were held decided to postpone matchday 26 in light of the behind closed doors in accordance with the respec- dynamic development in terms of new coronavirus tive political ordinances. Throughout the process, infections and suspicious cases, including in direct the DFL and the clubs were keen to reiterate that connection with the Bundesliga and Bundesliga 2. matches without fans in the stadium were in no way This was only the beginning: In line with the respec- desirable. As the coronavirus crisis took hold, tive political ordinances, both leagues ultimately however, it quickly became clear that this would be ended up suspending fixtures until 16 May 2020. the only way to continue match operations for the time being – and hence the only way for some clubs This economic report therefore looks at the cumula- to secure their economic livelihood, including as tive economic performance of the Bundesliga and employers. Since the outbreak of the pandemic, the Bundesliga 2 in a season that was dominated by a overriding aim has been and remains to ­manoeuvre forced break lasting 66 days. the Bundesliga and Bundesliga 2 through this unprecedented crisis and to maintain the leagues in Although the Bundesliga and Bundesliga 2 became the form in which many people have enjoyed them the first major sports leagues in the world to resume for decades – with great tradition and variety in match operations on the basis of a comprehensive terms of the clubs involved.

Although it was possible to continue match opera- tions, the reduction in the total revenue generated by the two leagues in the past season does not come as a surprise in light of the impact of the coronavirus pandemic. Following 15 consecutive years of record revenue in German licensed football, the Bundesliga and Bundesliga 2 generated total revenue of €4.5 billion in the 2019-20 season (1 July 2019 10 2021 DFL ECONOMIC REPORT | OVERVIEW OF GERMAN LICENSED FOOTBALL

BUNDESLIGA Revenue mix (€ million)

MATCH REVENUE 363.5 Contribution to total revenue 9.6 % to 30 June 2020), down 5.7 per cent on the previous ADVERTISING year. Of the 18 Bundesliga clubs, 13 reported total 888.8 revenue in excess of €100 million. Contribution to total revenue 23.4 % The downturn in revenue is primarily attributable to the lack of ticket sales due to matches being played MEDIA REVENUE (ALL COMPETITIONS) without fans in the stadiums. In addition to league 1,489.2 matchdays 26 to 34 and the relegation play-offs, Contribution to total revenue 39.2 % this also affected fixtures in the DFB Cup. As ­international club competitions only resumed in TRANSFERS ­August 2020, the corresponding effects will be 594.3 reflected in the next economic report. Contribution to total revenue 15.6 % Looking at the revenue mix for the Bundesliga clubs, MERCHANDISING match revenue, which largely comprises income from ticket sales, declined by around 30 per cent or 184.4 more than €155 million. The average for the previ- Contribution to total revenue 4.9 % ous five seasons was €536 million, whereas the impact of the pandemic in particular meant that the OTHER TAKINGS figure for 2019-20 was €364 million. In addition, 281.8 transfer revenue – a traditionally volatile variable Contribution to total revenue 7.4 % that depends on the number of player transfers in a season and the fees involved – declined for the first TOTAL time in seven seasons and was almost twelve per cent lower than in the previous year. Meanwhile, 3,802.1 media revenue remained at the same level as the previous season.

MATCH REVENUE Primarily income from ticket Looking at the projected figures for the 2019-20 sales for matches in national and international competitions season submitted within the scope of the licensing ADVERTISING Primarily income from contracts process, it can be said that the Bundesliga clubs as a with main sponsors and shirt sponsors as well as whole came to a realistic assessment of their reve- stadium and club rights MEDIA REVENUE Primarily revenue from the nue situation prior to the start of the pandemic. The marketing of media rights to matches in national revenue actually generated in 2019-20 differs from (including the DFB Cup) and international the projected figures by just a few percentage competitions, as well as revenue from other joint points with one exception: match revenue, where marketing TRANSFERS Revenue from all transfer and training there is a considerable shortfall between the target compensation fees and actual figures. MERCHANDISING Income from merchandising OTHER TAKINGS Revenue from the transfer of utilisation rights, public catering, letting and leasing, The solid overall economic performance of the membership fees and other items Bundesliga clubs in recent years is reflected in the 11

fact that all of the clubs had positive adjusted level of transfer liabilities contained in the “Other equity on the last reporting date before the onset of liabilities” item. the coronavirus pandemic (31 December 2019). ­Although the pandemic already had a tangible Despite all of the efforts made, the unexpected impact in the 2019-20 season, cumulative equity of need to scale back established cost structures €1.73 billion as of 30 June 2020 represents the represents a considerable challenge and one that is second-highest figure in Bundesliga history. The difficult to implement. Due to existing contractual equity ratio, one of the key indicators of a compa- relationships, this is also reflected in the fact that, ny’s financial stability, has also only been higher unlike revenue, the expenditure of the Bundesliga than the 43.7 per cent recorded in the 2019-20 clubs increased slightly by 1.7 per cent year-on- season on one occasion previously. At the same year in the 2019-20 season. Payroll costs for match time, liabilities increased significantly year-on-year operations, i.e. salaries for players and coaches, to €1.81 billion. This is mainly due to the higher remains by far the biggest item. These costs 12 2021 DFL ECONOMIC REPORT | OVERVIEW OF GERMAN LICENSED FOOTBALL

increased by a good one per cent compared with although this still represents the second-highest figure the 2018-19 season. Turn to page 16 of this eco- in the division’s history. This development was to be nomic report to read more about the Bundesliga’s­ expected, especially given the aforementioned impact key economic indicators. of the coronavirus pandemic on ticket sales in particu- lar. In addition, the cumulative income statements of Bundesliga 2 also saw a downturn in revenue in the the Bundesliga 2 clubs are subject to a certain volatility 2019-20 season – from €782 million to €726 million – from year to year on account of the composition of the

52,786 people were employed either directly or indirectly in German licensed football during the 2019-20 season. 13

division and the differences in the economic conditions of the up to six promoted or relegated clubs, among BUNDESLIGA 2 other things. After the 2018-19­ season, 1. FC Köln, Revenue mix SC Paderborn 07 and 1. FC Union Berlin were (€ million) ­promoted to the Bundesliga and MSV Duisburg, 1. FC Magdeburg­ and FC Ingolstadt 04 were relegated from Bundesliga 2. Meanwhile, 1. FC Nürnberg, MATCH REVENUE Hannover 96 and VfB Stuttgart were relegated to 113.9 Bundesliga 2 from the Bundesliga and VfL Osnabrück, Contribution to total revenue 15.7 % Karlsruher SC and SV Wehen Wiesbaden were ­promoted to Bundesliga­ 2 from the third tier. ADVERTISING

Based on the projected figures for the 2019-20 season 142.2 Contribution to total revenue 19.6 % submitted within the scope of the licensing process, the Bundesliga 2 clubs as a whole came to a realistic MEDIA REVENUE assessment of their revenue situation. The revenue (ALL COMPETITIONS) actually generated in 2019-20 differs from the project- 266.4 ed figures by just a few percentage points with two Contribution to total revenue 36.7 % exceptions: match revenue and transfer revenue. The shortfall between the target and actual figures was TRANSFERS almost 24 per cent for transfer revenue and around 72.0 15 per cent for the traditionally volatile transfer income. Contribution to total revenue 9.9 %

Although the 18 Bundesliga 2 clubs are also facing MERCHANDISING the challenge of cutting costs at short notice, they clearly also made a very realistic assessment of their 34.8 Contribution to total revenue 4.8 % expenditure based on the projected figures submit- ted within the scope of the licensing process. The OTHER TAKINGS actual expenditure of €784 million in the 2019-20 season – up just under two per cent on the previous 96.5 Contribution to total revenue 13.3 % year – differed from the respective forecasts by only a few percentage points. Turn to page 24 of this TOTAL 725.8

MATCH REVENUE Primarily income from ticket sales for matches in national and international competitions ADVERTISING Primarily income from contracts with main sponsors and shirt sponsors as well as stadium and club rights MEDIA REVENUE Primarily revenue from the marketing of media rights to matches in national (including the DFB Cup) and international competitions, as well as revenue from other joint marketing TRANSFERS Revenue from all transfer and training compensation fees MERCHANDISING Income from merchandising OTHER TAKINGS Revenue from the transfer of utilisation rights, public catering, letting and leasing, membership fees and other items 14 2021 DFL ECONOMIC REPORT | OVERVIEW OF GERMAN LICENSED FOOTBALL €1.41 bn is the amount paid in taxes and duties by the Bundesliga and Bundesliga 2 clubs in the 2019-20 season.

MILESTONES OF THE EXCEPTIONAL 2019-20 SEASON.

11 MARCH 2020 13 MARCH 2020 16 MARCH 2020 31 MARCH 2020

The City of The DFL Executive The DFL Members The suspension of Mönchengladbach Committee postpones Assembly resolves the Bundesliga and orders the match matchday 26 to postpone at Bundesliga 2 due between Borussia and recommends least matchday 27 to the coronavirus Mönchengladbach the immediate in both divisions pandemic is extended and 1. FC Köln to suspension of match and to reconvene until at least 30 April. be held without operations in the in late March. The The 36 professional fans in the stadium Bundesliga and clubs unanimously clubs unanimously in response to Bundesliga 2 until express their goal adopt a corresponding the spread of the at least 2 April in of completing the recommendation by coronavirus. It is response to the current season the DFL Executive the first match in suspected cases by 30 June where Committee at the Bundesliga history of infection in and legally permissible first virtual DFL to take place behind around several clubs and justifiable from Members Assembly. closed doors. and their teams. a public health In addition, a “Sports perspective. Medicine/Special Match Operations Task Force” is established under the leadership of Prof. Tim Meyer, Medical Director of the Institute of Sports and Preventive Medicine at Saarland University and team doctor for the German national team. 15

economic report to read more about the key eco- season. One example of this is the international nomic indicators of Bundesliga 2. transfer market, where – with a few exceptions – lower key fi gures are to be expected. Above all, In summary, the Bundesliga and Bundesliga 2 however, a further decline in match revenue is clubs again enjoyed overall economic performance unavoidable. When this economic report on the based on realistic assumptions – up until the 2019-20 season was published, the fi rst half of the pandemic and all the challenges it brought. How- 2020-21 season was already complete – and most ever, it is also clear that the impact of the coronavi- matches had taken place without fans in the rus will be even more pronounced in the 2020-21 stadiums.

23 APRIL 2020 6 MAY 2020 16 MAY 2020 27 JUNE 2020 28 JUNE 2020

The task force The federal and Following a forced Matchday 34 in DSC Arminia presents its concept state governments break lasting 66 days, the Bundesliga: Bielefeld is at another DFL allow the the Bundesliga (as The players promoted to Members Assembly. resumption of the first of the major of Bayern the Bundesliga Its aim: the medically match operations European leagues) München are and receives the justifiable resumption in the Bundesliga and Bundesliga 2 presented with Bundesliga 2 of match operations and Bundesliga 2 resume the season the Bundesliga Meisterschale and training. “from the second with matchday Meisterschale in after topping Meanwhile, the DFL half of May” on the 26 – two days after Wolfsburg. the table for the concludes agreements basis of the DFL another DFL Members 2019-20 season. with almost all concept. 16 May is Assembly at which national media the date set for the the professional clubs partners concerning continuation of the passed resolutions the payments to season. that included the be expected in addition of the order to provide “Sports Medicine/ the professional Special Match clubs with liquidity Operations Task gradually and Force” concept as an depending on how the appendix to the DFL season progresses. regulations. ECONOMIC FIGURES BUNDESLIGA. 17

BALANCE SHEET

THE AGGREGATED TOTAL ASSETS of the Bundes­ ­under review: twelve). Player assets, which express the liga increased once again to reach a new all-time high of value of professional football players on the balance €3.95 billion as of 30 June 2020. This represented an sheet, saw the most substantial growth of €308.3 mil­ increase of around €152 million or almost four per cent lion. At €1.47 billion, the value of player assets has more compared with the previous year. Total assets – calculat­ than doubled since 2016 (€696.4 million). By contrast, ed from the financial statements of all 18 Bundesliga equity fell by €84.4 million, although the total of clubs submitted within the scope of the licensing pro­ €1.73 billion is still the second-highest in Bundesliga his­ cess – again included the financial statements of the tory. The equity ratio declined to 43.7 per cent, also the clubs with corporate group structures (in the period second-best figure of all time.

BUNDESLIGA ASSETS (€ 000s)

30 June 2019 30 June 2020

Intangible assets (excl. player assets) 28,262 39,153

Player assets 1,162,517 1,470,797

Tangible fixed assets 1,116,479 1,137,511

Financial assets 59,228 42,969

Receivables, stocks, securities 773,910 730,868

Cash in hand, bank balances 540,598 433,331

Prepaid expenses 114,219 94,580

Deferred tax assets 3,383 2,172

Surplus of plan assets over benefit obligations 3,909 2,878

Total 3,802,504 3,954,258

BUNDESLIGA EQUITY AND LIABILITIES (€ 000s)

30 June 2019 30 June 2020

Equity 1,811,969 1,727,584

Special item for investment subsidies 73,455 51,390

Provisions 203,219 250,748

Liabilities 1,458,545 1,810,238 of which: from bonds 91,095 102,727 of which: to banks 200,737 212,928 of which: from trade accounts payable 177,610 187,173 of which: other liabilities 989,103 1,307,409

Deferred income 255,316 113,545

Deferred tax liabilities 0 753

Total 3,802,504 3,954,258 18 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: BUNDESLIGA

INCOME STATEMENT

REVENUE The 18 Bundesliga clubs generated revenue €156.6 million lower than in the previous year. Tradi­ of €3.8 billion in the 2019-20 season. Only the two pre­ tionally volatile transfer revenue was also down vious seasons saw higher levels of revenue. Compared €80.8 million on the previous year. However, the two with the previous year, revenue declined by €217.5 mil­ largest revenue items – media and advertising revenue – lion. Match revenue in particular was impacted by the again saw moderate growth. Media revenue amounted special match operations without spectators that came to €1.49 billion, while advertising revenue came in at into force from matchday 26 in response to the just under €889 million, both of which represent ­COVID-19 pandemic. Revenue in this area was Bundesliga­ records.

BUNDESLIGA REVENUE (€ 000s)

2017-18 2018-19 2019-20

Match revenue 538,430 520,090 363,538 Contribution to total revenue 14.12 % 12.94 % 9.56 % Advertising 871,666 845,443 888,835 Contribution to total revenue 22.86 % 21.03 % 23.38 % Media revenue (all competitions) 1,247,892 1,483,048 1,489,186 Contribution to total revenue 32.72 % 36.90 % 39.17 % Transfers 645,502 675,104 594,323 Contribution to total revenue 16.93 % 16.80 % 15.63 % Merchandising 183,376 175,993 184,435 Contribution to total revenue 4.81 % 4.38 % 4.85 % Other takings 326,619 319,932 281,769 Contribution to total revenue 8.56 % 7.96 % 7.41 % of which: profit/loss attributable to other shareholders 18,288 42,084 15,240 Total 3,813,486 4,019,611 3,802,087

BUNDESLIGA REVENUE

9 .56 % 14. .96 % 12.9 .41 % .56 8 12 7 4 7 % % % % % 8 % 5 1 .3 .8 .8 4 4

4

% %

% 3

% 0 8

6 %

3 .

3 8 . .

5 9 3

2017-18 6 2018-19 2019-20

. 3

% 1

0

1

6

. 2

6

1 1

Total 8 Total Total

. 2

2 € 3.81 bn 2 € 4.02 bn € 3.80 bn

32 3 3 .72 % 6.90 % 9.17 %

Match revenue Advertising Media revenue (all competitions) Transfers Merchandising Other takings 19

EXPENDITURE The expenditure of the Bundesliga ­previous season at €1.45 billion. Salary payments for clubs increased slightly, by 1.7 per cent year-on-year, to administrative and commercial staff (down €11.2 mil­ reach an all-time high of €3.96 billion in the 2019-20 lion), expenditure for match operations (down €10 mil­ season. Transfer expenditure saw the most substantial lion) and other expenditure (down €5.5 million), which growth, rising by €67.6 million to a record level of includes the cost of administration, advertising, materi­ €910 million. As previously, the largest individual item als and commercial operations, all decreased compared was payroll costs for match operations, i.e. players and with the previous year. coaches, which were 1.1 per cent higher than in the

BUNDESLIGA EXPENDITURE (€ 000s)

2017-18 2018-19 2019-20

Payroll costs for match operations 1,317,801 1,431,633 1,446,791 Contribution to total expenditure 35.50 % 36.79 % 36.56 % Commercial/administrative staff 260,278 269,147 257,892 Contribution to total expenditure 7.01 % 6.92 % 6.52 % Transfers 839,018 842,447 910,025 Contribution to total expenditure 22.60 % 21.65 % 22.99 % Match operations 420,323 428,571 418,601 Contribution to total expenditure 11.32 % 11.01 % 10.58 % Youth, amateurs, academies 140,838 144,147 154,030 Contribution to total expenditure 3.79 % 3.70 % 3.89 % Other expenditure 733,540 775,814 770,326 Contribution to total expenditure 19.76 % 19.93 % 19.46 % Total 3,711,797 3,891,759 3,957,665

BUNDESLIGA BUNDESLIGA ADVERTISING REVENUE EXPENDITURE YOUTH, (€ 000s) AMATEURS, ACADEMIES (€ 000s)

154,030 888,835

880,000 150,000 +6.9 % 871,666 Compared to +5.13 % previous year Compared to 860,000 previous year 145,000 144,147 140,838

840,000 845,443 140,000 2017–18 2018–19 2019-20 2017-18 2018-19 2019-20 20 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: BUNDESLIGA

RESULTS AND INDICATORS

THE BUNDESLIGA RECORDED a negative cumula­ (earnings before interest, taxes, depreciation and amor­ tive net result for the first time after nine years of occa­ tisation) amounted to an average of €35.1 million per sionally high profitability. All in all, the 18 clubs spent club and €631.3 million in total. 16 of the 18 clubs re­ €155.6 million more than they generated. However, ported positive EBITDA. eight clubs closed the season with a net profit. EBITDA

BUNDESLIGA BUNDESLIGA TOTAL RESULT EBITDA (€ 000s) AFTER TAXES (€ 000s)

868,518 850,000 160,000 127,852

801,648 101,689

725,000 0

631,314 –155,578 600,000 –160,000 2017-18 2018-19 2019-20 2017-18 2018-19 2019-20

BUNDESLIGA NUMBER OF CLUBS WITH A POSITIVE RESULT AFTER TAXES

2019-20 8

2018-19 14

2017-18 13 21

RATIO OF PAYROLL COSTS FOR MATCH OPERATIONS TO TOTAL REVENUE

THE PAYROLL COSTS of the Bundesliga clubs for for match operations than in the previous season. With their professional squads increased minimally by 1.1 per the clubs and limited companies reporting considerably cent or €15.2 million. This was the smallest increase in lower revenue, the payroll cost ratio, i.e. payroll costs payroll costs for players and coaching staff in the past for players and coaches in relation to total revenue, in­ eight years (2011-12: up €6.8 million year-on-year). On creased by 2.5 percentage points to 38.1 per cent. average, each club spent €844,000 more on payroll costs

BUNDESLIGA TOTAL (€ 000s)

2017-18 2018-19 2019-20

Payroll costs for match operations 1,317,801 1,431,633 1,446,791 Ratio I 34.6 % 35.6 % 38.1 % Payroll costs for match operations and commercial/administrative staff 1,578,079 1,700,779 1,704,683 Ratio II 41.4 % 42.3 % 44.8 % Total revenue 3,813,486 4,019,611 3,802,087 22 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: BUNDESLIGA

GROUPS BY PAYROLL COSTS FOR MATCH OPERATIONS

IN ORDER TO ENABLE the com­ penditure than the “notional aver­ GROUPS The clubs were divided parability of their economic perfor­ age” Bundesliga club. While the into three groups of six based on mance in spite of the considerable Bundesliga averages were revenue of their payroll costs for match opera­ differences in their economic condi­ €211.2 million and expenditure of tions in the 2019-20 season: tions, the clubs have been clustered €219.9 million, the top six clubs av­ into three groups based on the ex­ eraged €366 million and €374.5 mil­ GROUP I Clubs with payroll costs penditure for their respective profes­ lion respectively. The clubs in the for match operations of over sional squads. Each group was then middle group came in at 87 and 91 €75 million assigned the corresponding revenue per cent of the Bundesliga average and expense items. This shows that for revenue and expenditure respec­ GROUP II Clubs with payroll costs the clubs with the highest payroll tively, while the figures for the clubs for match operations of between costs had around 73 per cent higher in the third group were 40 and €42 million and €75 million revenue and 70 per cent higher ex­ 39 per cent. GROUP III Clubs with payroll costs for match operations of less than €42 million

BUNDESLIGA REVENUE (AVERAGE PER LICENSEE – € 000s)

Media 2019-20 Match revenue Advertising revenue Transfers Merchandising Other takings Total

Group I 30,036 149 % 102,017 207 % 133,278 161 % 50,140 152 % 19,711 192 % 30,839 197 % 366,020 173 %

Group II 22,603 112 % 32,491 66 % 70,660 85 % 37,949 115 % 8,710 85 % 10,527 67 % 182,941 87 %

Group III 7,951 39 % 13,632 28 % 44,260 53 % 10,965 33 % 2,319 23 % 5,595 36 % 84,721 40 %

BL average 20,197 100 % 49,380 100 % 82,733 100 % 33,018 100 % 10,246 100 % 15,654 100 % 211,227 100 %

BUNDESLIGA EXPENDITURE (AVERAGE PER LICENSEE – € 000s)

Payroll costs Youth/ for match Administrative Match amateurs/ Other 2019-20 operations staff Transfers operations academies ­expenditure Total

Group I 141,723 176 % 25,012 175 % 93,329 185 % 33,313 143 % 15,236 178 % 65,877 154 % 374,489 170 %

Group II 66,258 82 % 13,186 92 % 41,918 83 % 24,657 106 % 6,744 79 % 47,049 110 % 199,812 91 %

Group III 33,151 41 % 4,785 33 % 16,424 32 % 11,797 51 % 3,692 43 % 15,462 36 % 85,310 39 %

BL average 80,377 100 % 14,327 100 % 50,557 100 % 23,256 100 % 8,557 100 % 42,796 100 % 219,870 100 % 23

GROUPS BY LEAGUE TABLE POSITION

THE CORRELATION BETWEEN the economic con­ ful in economic terms. The clubs in the middle group ditions of the clubs and their success on the pitch is illus­ came in at 80 and 82 per cent of the average for revenue trated by clustering them into three groups based on the and expenditure respectively, while the figures for the six league table position achieved. This shows that the most clubs in the bottom third were 47 and 48 per cent. successful clubs on the pitch were also the most success­

BUNDESLIGA REVENUE (AVERAGE PER LICENSEE – € 000s)

Media 2019-20 Match revenue Advertising revenue Transfers Merchandising Other takings Total

Positions 1–6 31,092 154 % 88,903 180 % 131,865 159 % 66,628 202 % 19,638 192 % 27,352 175 % 365,477 173 %

Positions 7–12 17,560 87 % 40,527 82 % 69,725 84 % 21,989 67 % 7,022 69 % 13,108 84 % 169,931 80 %

Positions 13–18 11,937 59 % 18,710 38 % 46,608 56 % 10,437 32 % 4,080 40 % 6,502 42 % 98,273 47 %

BL average 20,197 100 % 49,380 100 % 82,733 100 % 33,018 100 % 10,246 100 % 15,654 100 % 211,227 100 %

BUNDESLIGA EXPENDITURE (AVERAGE PER LICENSEE – € 000s)

Payroll costs Youth/ for match Administrative Match amateurs/ Other 2019-20 operations staff Transfers operations academies ­expenditure Total

Positions 1–6 137,738 171 % 23,884 167 % 91,894 182 % 32,251 139 % 12,807 150 % 75,272 176 % 373,847 170 %

Positions 7–12 63,482 79 % 12,496 87 % 39,574 78 % 20,699 89 % 8,715 102 % 35,139 82 % 180,106 82 %

Positions 13–18 39,912 50 % 6,601 46 % 20,203 40 % 16,816 72 % 4,150 48 % 17,976 42 % 105,658 48 %

BL average 80,377 100 % 14,327 100 % 50,557 100 % 23,256 100 % 8,557 100 % 42,796 100 % 219,870 100 % ECONOMIC FIGURES BUNDESLIGA 2. 25

BALANCE SHEET

THE AGGREGATED TOTAL ASSETS of the 18 with corporate group structures (previous year: six). Al- Bundesliga­ 2 clubs also reached a new all-time high, ris- though the equity of the clubs declined by 12.7 per cent, ing by €18.2 million or 2.9 per cent year-on-year to the total of €151.7 million was still the second-highest in €652.1 million. The total assets of the 18 Bundesliga 2 Bundesliga 2 history. clubs included the financial statements of nine clubs

BUNDESLIGA 2 ASSETS (€ 000s)

30 June 2019 30 June 2020

Intangible assets (excl. player assets) 67,262 69,888

Player assets 89,764 91,256

Tangible fixed assets 222,988 252,679

Financial assets 8,380 21,630

Receivables, stocks, securities 122,021 100,013

Cash in hand, bank balances 115,467 110,709

Prepaid expenses 7,958 5,888

Deferred tax assets 0 0

Surplus of plan assets over benefit obligations 0 0

Total 633,840 652,063

BUNDESLIGA 2 EQUITY AND LIABILITIES (€ 000s)

30 June 2019 30 June 2020

Equity 173,746 151,702

Special item for investment subsidies 2,775 25,446

Provisions 61,055 83,908

Liabilities 312,334 335,605 of which: from bonds 44,618 19,789 of which: to banks 70,226 103,768 of which: from trade accounts payable 34,716 45,387 of which: other liabilities 162,773 166,661

Deferred income 81,146 53,231

Deferred tax liabilities 2,784 2,172

Total 633,840 652,063 26 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: BUNDESLIGA 2

INCOME STATEMENT

REVENUE The Bundesliga 2 recorded the second-high- areas decreased compared with the 2018-19 season. est level of revenue in its history in the 2019-20 season, These effects are due in part to the change in the com- exceeding the €700 million mark for the second year in position of the league and the differences in the eco- succession. All in all, the clubs generated revenue of nomic conditions of the up to six promoted or relegat- €725.8 million, €117.4 million more than two years ed clubs – the economic data of Bundesliga 2 is ago. However, revenue declined by 7.2 per cent or traditionally subject to relatively high volatility. After €56.2 million compared with the previous season. the 2018-19 season, 1. FC Köln, SC Paderborn 07 and ­Media revenue increased by a further €15.9 million to 1. FC Union Berlin were promoted to the Bundesliga a new record of €266.4 million. Revenue in all other and MSV Duisburg, 1. FC Magdeburg and

BUNDESLIGA 2 REVENUE (€ 000s)

2017-18 2018-19 2019-20

Match revenue 97,369 131,257 113,862 Contribution to total revenue 16.00 % 16.78 % 15.69 % Advertising 131,048 158,111 142,177 Contribution to total revenue 21.54 % 20.22 % 19.59 % Media revenue (all competitions) 208,198 250,493 266,401 Contribution to total revenue 34.22 % 32.03 % 36.71 % Transfers 73,034 96,284 71,993 Contribution to total revenue 12.00 % 12.31 % 9.92 % Merchandising 25,309 38,323 34,847 Contribution to total revenue 4.16 % 4.90 % 4.80 % Other takings 73,432 107,549 96,487 Contribution to total revenue 12.07 % 13.75 % 13.29 % of which: profit/loss attributable to other shareholders –270 –954 117 Total 608,390 782,017 725,767

BUNDESLIGA 2 REVENUE

% 1 1 07 6. 5 % 16 9 % 5.6 2. 00 .7 .78 .2 9 1 % 13 % 13 % % 6 1 % % . 0 4 0 .8 .9 4 4

%

0 % 2017-18 2018-19 2019-20 0

. % 2

%

9 2

1

% .

9 %

1

3

9 . Total Total Total 5 4 2

. 2

5 2

. 9 1 .

1 € 608 mn 1 € 782 mn 0 € 726 mn 2 2

3 4. 3 36 22 % 2.03 % .71 %

Match revenue Advertising Media revenue (all competitions) Transfers Merchandising Other takings 27

FC ­Ingolstadt 04 were relegated from Bundesliga 2. EXPENDITURE The expenditure of the 18 Bundesliga 2 Meanwhile, 1. FC Nürnberg, ­Hannover 96 and clubs increased by two per cent or €15.3 million com- VfB Stuttgart were relegated to ­Bundesliga 2 from the pared with the previous season to a new all-time high of Bundesliga and VfL Osnabrück, Karlsruher SC and €783.6 million. As previously, the largest individual SV Wehen ­Wiesbaden were promoted­ to Bundesliga 2­ item was payroll costs for players and coaches, which from the third tier. Match revenue in particular was increased by 9.6 per cent to €261.8 million. Other ex- also impacted by the special match operations without penditure (which includes the cost of administration, spectators that came into force from matchday 26 in advertising, materials and commercial operations in response to the COVID-19 pandemic. particular) declined significantly by 10.2 per cent.

BUNDESLIGA 2 EXPENDITURE (€ 000s)

2017-18 2018-19 2019-20

Payroll costs for match operations 191,557 238,961 261,791 Contribution to total expenditure 32.93 % 31.10 % 33.41 % Commercial/administrative staff 49,680 65,565 81,468 Contribution to total expenditure 8.54 % 8.53 % 10.40 % Transfers 42,672 90,918 92,177 Contribution to total expenditure 7.34 % 11.83 % 11.76 % Match operations 111,474 136,938 133,730 Contribution to total expenditure 19.16 % 17.82 % 17.07 % Youth, amateurs, academies 36,284 42,570 40,692 Contribution to total expenditure 6.24 % 5.54 % 5.19 % Other expenditure 150,027 193,374 173,749 Contribution to total expenditure 25.79 % 25.17 % 22.17 % Total 581,694 768,326 783,607

BUNDESLIGA 2 BUNDESLIGA 2 MEDIA REVENUE MATCH REVENUE (€ 000s) (€ 000s)

266,401

250,493 131,257 250,000 130,000

+6.4 % 113,862 Compared to 225,000 110,000 previous year –13.3 % Compared to previous year 97, 369 200,000 208,198 90,000 2017-18 2018-19 2019-20 2017-18 2018-19 2019-20 28 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: BUNDESLIGA 2

RESULTS AND INDICATORS

AFTER GENERATING a cumulative net profit in each EBITDA declined to €40.2 million, less than one-third of the last two years, the Bundesliga 2 clubs closed the the figure recorded in the previous year. 15 clubs ­reported 2019-20 season with a loss of €57.8 million. However, positive EBITDA. seven of the 18 clubs ended the season with a net profit.

BUNDESLIGA 2 BUNDESLIGA 2 TOTAL RESULT EBITDA (€ 000s) AFTER TAXES (€ 000s)

122,940 26,696 13,691 100,000 10,000 0 83,088

50,000 –25,000

40,212

0 –60,000 –57,840 2017-18 2018-19 2019-20 2017-18 2018-19 2019-20

BUNDESLIGA 2 NUMBER OF CLUBS WITH A POSITIVE RESULT AFTER TAXES

2019-20 7

2018-19 14

2017-18 15 29

RATIO OF PAYROLL COSTS FOR MATCH OPERATIONS TO TOTAL REVENUE

THE SUBSTANTIAL DOWNTURN in Bundesliga 2 for the professional squads increased by 9.6 per cent, the revenue is also reflected in the payroll cost ratio, i.e. pay- payroll cost ratio rose to 36.1 per cent. This represents roll costs for players and coaches in relation to total rev- an increase of 5.5 percentage points and the highest lev- enue. As revenue fell by 7.2 per cent while payroll costs el since the 2012-13 season (38.1 per cent).

BUNDESLIGA 2 TOTAL (€ 000s)

2017-18 2018-19 2019-20

Payroll costs for match operations 191,557 238,961 261,791 Ratio I 31.5 % 30.6 % 36.1 % Payroll costs for match operations and commercial/administrative staff 241,237 304,526 343,259 Ratio II 39.7 % 38.9 % 47.3 % Total revenue 608,390 782,017 725,767 30 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: BUNDESLIGA 2

GROUPS BY PAYROLL COSTS FOR MATCH OPERATIONS

IN THE SAME WAY as in the Bun- highest payroll costs reported reve- GROUPS The clubs were divided desliga, it was the Bundesliga 2 clubs nue of €69.3 million and expendi- into three groups of six based on with higher payroll costs that re- ture of €75 million. It is notable that their payroll costs for match opera- corded higher revenue and expendi- the second and third groups are tions in the 2019-20 season: ture. The revenue and expenditure closer together than in the Bundes­ of the six clubs with the strongest liga. The clubs in the middle group GROUP I Clubs with payroll costs economic positions was 72 per cent came in at 76 and 80 per cent of the for match operations of over higher than the league-wide average. Bundesliga 2 average for revenue €13.7 million While the “notional average” and expenditure respectively, while Bundesliga­ 2 club recorded revenue the figures for the clubs in the third GROUP II Clubs with payroll costs of €40.3 million and expenditure of group were 52 and 48 per cent. for match operations of between €43.5 million, the clubs with the €10.0 million and €13.7 million

GROUP III Clubs with payroll costs for match operations of less than €10 million

BUNDESLIGA 2 REVENUE (AVERAGE PER LICENSEE – € 000s)

Media 2019-20 Match revenue Advertising revenue Transfers Merchandising Other takings Total

Group I 12,377 196 % 11,258 143 % 20,752 140 % 9,313 233 % 4,639 240 % 10,959 204 % 69,299 172 %

Group II 4,286 68 % 7,320 93 % 13,524 91 % 1,629 41 % 669 35 % 3,227 60 % 30,655 76 %

Group III 2,314 37 % 5,118 65 % 10,124 68 % 1,057 26 % 500 26 % 1,895 35 % 21,007 52 %

BL 2 average 6,326 100 % 7,899 100 % 14,800 100 % 4,000 100 % 1,936 100 % 5,360 100 % 40,320 100 %

BUNDESLIGA 2 EXPENDITURE (AVERAGE PER LICENSEE – € 000s)

Payroll costs Youth/ for match Administrative Match amateurs/ Other 2019-20 operations staff Transfers operations academies ­expenditure Total

Group I 22,662 156 % 8,943 198 % 11,394 223 % 10,584 142 % 4,171 185 % 17,235 179 % 74,990 172 %

Group II 11,997 82 % 2,610 58 % 3,141 61 % 7,491 101 % 1,649 73 % 8,026 83 % 34,914 80 %

Group III 8,973 62 % 2,024 45 % 827 16 % 4,214 57 % 962 43 % 3,698 38 % 20,697 48 %

BL 2 average 14,544 100 % 4,526 100 % 5,121 100 % 7,429 100 % 2,261 100 % 9,653 100 % 43,534 100 % 31

GROUPS BY LEAGUE TABLE POSITION

THE CLUBS WERE CONSIDERABLY CLOSER in the table had significantly better economic conditions terms of their performance relative to the league table than the middle group. The revenue and expenditure of position achieved. The six top clubs again recorded the the clubs placed 13th to 18th amounted to 84 per cent highest revenue and expenditure but only 55 and 58 per of the average, while the clubs placed seventh to twelfth cent above the respective average. By contrast, one nota- recorded revenue of 62 per cent and expenditure of ble observation is that the clubs in the bottom third of 58 per cent.

BUNDESLIGA 2 REVENUE (AVERAGE PER LICENSEE – € 000s)

Media 2019-20 Match revenue Advertising revenue Transfers Merchandising Other takings Total

Positions 1–6 9,991 158 % 11,274 143 % 20,463 138 % 8,170 204 % 3,006 155 % 9,503 177 % 62,406 155 %

Positions 7–12 3,031 48 % 6,189 78 % 11,790 80 % 1,078 27 % 739 38 % 1,971 37 % 24,798 62 %

Positions 13–18 5,955 94 % 6,233 79 % 12,147 82 % 2,752 69 % 2,064 107 % 4,607 86 % 33,758 84 %

BL 2 average 6,326 100 % 7,899 100 % 14,800 100 % 4,000 100 % 1,936 100 % 5,360 100 % 40,320 100 %

BUNDESLIGA 2 EXPENDITURE (AVERAGE PER LICENSEE – € 000s)

Payroll costs Youth/ for match Administrative Match amateurs/ Other 2019-20 operations staff Transfers operations academies ­expenditure Total

Positions 1–6 21,763 150 % 7,941 175 % 10,810 211 % 10,821 146 % 3,473 154 % 14,132 146 % 68,939 158 %

Positions 7–12 10,282 71 % 2,350 52 % 1,344 26 % 5,287 71 % 1,288 57 % 4,748 49 % 25,297 58 %

Positions 13–18 11,587 80 % 3,287 73 % 3,209 63 % 6,181 83 % 2,022 89 % 10,079 104 % 36,365 84 %

BL 2 average 14,544 100 % 4,526 100 % 5,121 100 % 7,429 100 % 2,261 100 % 9,653 100 % 43,534 100 % ECONOMIC FIGURES LICENSED FOOTBALL. 33

REVENUE AND EXPENDITURE

FOR THE FIRST TIME since the 2003-04 season, the son. The Bundesliga clubs accounted for 84 per cent of total revenue of German licensed football declined com- the revenue generated. By contrast, the expenditure of pared with the previous year. The 36 Bundesliga and the clubs and limited companies increased by €81.2 mil- Bundesliga 2 clubs generated a total of €4.53 billion in lion year-on-year to total €4.74 billion. 2019-20, €273.8 million less than in the 2018-19 sea-

LICENSED FOOTBALL REVENUE (€ 000s)

2017-18 2018-19 2019-20

Bundesliga 3,813,486 4,019,611 3,802,087 Contribution to total revenue 86.24% 83.71% 83.97% Bundesliga 2 608,390 782,017 725,767 Contribution to total revenue 13.76% 16.29% 16.03% Total 4,421,876 4,801,628 4,527,854

LICENSED FOOTBALL EXPENDITURE (€ 000s)

2017-18 2018-19 2019-20

Bundesliga 3,711,797 3,891,759 3,957,665 Contribution to total expenditure 86.45% 83.51% 83.47% Bundesliga 2 581,694 768,326 783,607 Contribution to total expenditure 13.55% 16.49% 16.53% Total 4,293,491 4,660,085 4,741,272 34 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: LICENSED FOOTBALL

TAXES AND DUTIES

THE 36 CLUBS and limited companies paid more and social security institutions increased by €15.5 mil- than €1.4 billion to the financial authorities and social lion year-on-year to €1.41 billion. At one billion euros, security institutions and accident insurers – the highest personal taxes and duties accounted for just under figure in the history of German professional football. 71 per cent of the total. All in all, the amount paid to the financial authorities

LICENSED FOOTBALL TAXES AND DUTIES (IN €)

Bundesliga Bundesliga 2 Licensed football Corporate taxes and duties VAT (excluding input tax) as at 31 Dec 2019 676,289,991 151,468,070 827,758,061 Corporate income tax 17,491,473 2,656,204 20,147,676 Trade tax 22,162,057 3,855,086 26,017,143 Other taxes and duties 7,543,822 3,110,614 10,654,436 Total 723,487,343 161,089,974 884,577,317

Personal taxes and duties Income tax on wages and salaries 654,521,456 98,677,034 753,198,490 Church tax and solidarity surcharge 44,400,565 7,371,131 51,771,697 Social security (pension, unemployment, health insurance) 95,679,200 40,580,461 136,259,662 Social insurance against occupational accidents 36,494,384 24,034,922 60,529,306 Total 831,095,606 170,663,549 1,001,759,155

Total corporate and personal taxes and duties 1,554,582,949 331,753,522 1,886,336,471 minus input tax refunded as at 31 Dec 2019 (input tax is an indicator of the company’s willingness to invest) 405,293,937 68,147,639 473,441,576 Outflow of funds from taxes and duties 1,149,289,012 263,605,883 1,412,894,896 35

JOBS

A TOTAL OF 52,786 PEOPLE were employed either di- Of this figure, 7,217 worked full-time and the others as rectly or indirectly in German licensed football during trainees, part-time or temporary workers. The number the 2019-20 season. The 36 clubs and limited companies of people employed by service providers commissioned employed 16,449 people, up 793 on the previous year. A by the clubs declined considerably to 31,084. This af- further 5,253 people were employed at the subsidiaries fected catering and security staff probably in particular of the clubs, meaning that a total of 21,702 ­people were due to the special match operations without spectators directly employed within German ­professional football. that came into force from matchday 26.

NUMBER OF STAFF IN LICENSED FOOTBALL

Bundesliga Bundesliga 2 Licensed football

2018-19 2019-20 2018-19 2019-20 2018-19 2019-20 Licensees Full-time staff 3,941 4,119 1,902 1,962 5,843 6,081 Trainees 61 58 31 28 92 86 Part-time staff 1,192 1,143 600 726 1,792 1,869 Temporary workers 4,799 5,631 3,130 2,782 7,929 8,413 Total 9,993 10,951 5,663 5,498 15,656 16,449

Subsidiaries Full-time staff 1,000 752 222 384 1,222 1,136 Trainees 27 23 13 8 40 31 Part-time staff 583 560 64 117 647 677 Temporary workers 3,137 2,511 781 898 3,918 3,409 Total 4,747 3,846 1,080 1,407 5,827 5,253

Contractors Security companies 9,188 8,302 5,172 4,385 14,360 12,687 Caterers 9,463 8,044 4,220 4,524 13,683 12,568 Medical services 1,127 997 718 661 1,845 1,658 Other 3,449 2,919 1,261 1,252 4,710 4,171 Total 23,227 20,262 11,371 10,822 34,598 31,084 Grand total 37,967 35,059 18,114 17,727 56,081 52,786 36 2021 DFL ECONOMIC REPORT | ECONOMIC FIGURES: LICENSED FOOTBALL

TICKET SALES

AFTER MATCH OPERATIONS RESUMED follow- ing the temporary interruption of the 2019-20 season due to the outbreak of the COVID-19 pandemic, all matches from matchday 26 onward were played with- out fans in the stadium. The report on ticket sales has therefore been omitted from this economic report. PUBLICATION DETAILS

PUBLISHED BY DFL Deutsche Fußball Liga OFFICIAL PARTNERS OF THE BUNDESLIGA AND Guiollettstraße 44–46 BUNDESLIGA 2 D-60325 Frankfurt/Main Germany E info@dfl .de W d fl . d e / e n @DFL_Offi cial DFL Deutsche Fußball Liga DFL

RESPONSIBLE Christian Pfennig

HEAD OF EXTERNAL COMMUNICATIONS Philip Sagioglou

EDITOR Marcel Friederich

VICE PRESIDENT BRAND DESIGN Thomas Markert

SUPPORT TEAM (DFL) Jörg Degenhart, Werner Möglich, Fabio Antonica, Oksana Osinnya, Malte Schulz

SUPPORT (EXTERNAL) Tobias Schild

FINAL EDITING Dr Michael Behrendt

PHOTO EDITING DFL Deutsche Fußball Liga GmbH

IMAGES DFL Deutsche Fußball Liga GmbH, Getty Images Deutschland GmbH

DESIGN Speedpool GmbH

PRINTING Blattwerk Hannover GmbH

TRANSLATION EVS Translations GmbH As of: 19 February 2021 KEY INDICATORS AT A GLANCE – COMPARING THE 2018-19 AND 2019-20 SEASONS

Total result 2018-19 2019-20 Number of clubs 2018-19 2019-20 after taxes in € 000s 127,852 –155,578 with a positive result EBITDA in € 000s 868,518 631,314 after taxes 14 8

BALANCE SHEET DATA Assets in € 000s 30 June 2019 30 June 2020 Equity and liabilities in € 000s 30 June 2019 30 June 2020 Player assets 1,162,517 1,470,797 Equity 1,811,969 1,727,584 Tangible fixed assets 1,116,479 1,137,511 Liabilities 1,458,545 1,810,238 Total 3,802,504 3,954,258 Total 3,802,504 3,954,258

Equity ratio as at 30 June 2019: 47.7 % as at 30 June 2020: 43.7 %

Revenue in € 000s 2018-19 2019-20 Expenditure in € 000s 2018-19 2019-20 Match revenue 520,090 363,538 Payroll costs for match operations 1,431,633 1,446,791 Contribution to total revenue 12.94 % 9.56 % Contribution to total expenditure 36.79 % 36.56 % Advertising 845,443 888,835 Commercial/administrative staff 269,147 257,892 Contribution to total revenue 21.03 % 23.38 % Contribution to total expenditure 6.92 % 6.52 % Media revenue 1,483,048 1,489,186 Transfers 842,447 910,025 Contribution to total revenue 36.90 % 39.17 % Contribution to total expenditure 21.65 % 22.99 % Transfers 675,104 594,323 Match operations 428,571 418,601 Contribution to total revenue 16.80 % 15.63 % Contribution to total expenditure 11.01 % 10.58 % Merchandising 175,993 184,435 Youth, amateurs, academies 144,147 154,030 Contribution to total revenue 4.38 % 4.85 % Contribution to total expenditure 3.70 % 3.89 % Other takings 319,932 281,769 Other expenditure 775,814 770,326 Contribution to total revenue 7.96 % 7.41 % Contribution to total expenditure 19.93 % 19.46 % Total 4,019,611 3,802,087 Total 3,891,759 3,957,665

Ratio of payroll costs to total revenue in € 000s 2018-19 2019-20 Match operations 1,431,633 1,446,791 Ratio I 35.6 % 38.1 % Match operations and commercial/administrative staff 1,700,779 1,704,683 Ratio II 42.3 % 44.8 %

Total result 2018-19 2019-20 Number of clubs 2018-19 2019-20 after taxes in € 000s 13,691 –57,840 with a positive result EBITDA in € 000s 122,940 40,212 after taxes 14 7

BALANCE SHEET DATA Assets in € 000s 30 June 2019 30 June 2020 Equity and liabilities in € 000s 30 June 2019 30 June 2020 Player assets 89,764 91,256 Equity 173,746 151,702 Tangible fixed assets 222,988 252,679 Liabilities 312,334 335,605 Total 633,840 652,063 Total 633,840 652,063

Equity ratio as at 30 June 2019: 27.4 % as at 30 June 2020: 23.3 %

Revenue in € 000s 2018-19 2019-20 Expenditure in € 000s 2018-19 2019-20 Match revenue 131,257 113,862 Payroll costs for match operations 238,961 261,791 Contribution to total revenue 16.78 % 15.69 % Contribution to total expenditure 31.10 % 33.41 % Advertising 158,111 142,177 Commercial/administrative staff 65,565 81,468 Contribution to total revenue 20.22 % 19.59 % Contribution to total expenditure 8.53 % 10.40 % Media revenue 250,493 266,401 Transfers 90,918 92,177 Contribution to total revenue 32.03 % 36.71 % Contribution to total expenditure 11.83 % 11.76 % Transfers 96,284 71,993 Match operations 136,938 133,730 Contribution to total revenue 12.31 % 9.92 % Contribution to total expenditure 17.82 % 17.07 % Merchandising 38,323 34,847 Youth, amateurs, academies 42,570 40,692 Contribution to total revenue 4.90 % 4.80 % Contribution to total expenditure 5.54 % 5.19 % Other takings 107,549 96,487 Other expenditure 193,374 173,749 Contribution to total revenue 13.75 % 13.29 % Contribution to total expenditure 25.17 % 22.17 % Total 782,017 725,767 Total 768,326 783,607

Ratio of payroll costs to total revenue in € 000s 2018-19 2019-20 Match operations 238,961 261,791 Ratio I 30.6 % 36.1 % Match operations and commercial/administrative staff 304,526 343,259 Ratio II 38.9 % 47.3 % KEY INDICATORS AT A GLANCE – COMPARING THE 2018-19 AND 2019-20 SEASONS

Revenue in € 000s 2018-19 2019-20 Expenditure in € 000s 2018-19 2019-20 Bundesliga 4,019,611 3,802,087 Bundesliga 3,891,759 3,957,665 Contribution to total revenue 83.71 % 83.97 % Contribution to total expenditure 83.51 % 83.47 % Bundesliga 2 782,017 725,767 Bundesliga 2 768,326 783,607 Contribution to total revenue 16.29 % 16.03 % Contribution to total expenditure 16.49 % 16.53 % Total 4,801,628 4,527,854 Total 4,660,085 4,741,272

Taxes and duties 2018-19 2019-20 Ticket sales Bundesliga 1,160,929,174 1,149,289,012 After match operations resumed following the temporary interruption of the 2019-20 season due to the outbreak of the COVID-19 Bundesliga 2 236,489,919 263,605,883 pandemic, all matches from matchday 26 onward were played without fans in the stadium. The report on ticket sales has therefore been Licensed football 1,397,419,093 1,412,894,896 omitted from this economic report.

LICENSED FOOTBALL Staff 2018-19 2019-20 Bundesliga 37,967 35,059 Bundesliga 2 18,114 17,727 Licensed football 56,081 52,786

COMPOSITION OF THE LEAGUES 2019-20

FC Augsburg FC Erzgebirge Aue

Hertha Berlin DSC Arminia Bielefeld

1. FC Union Berlin VfL Bochum 1848

SV Werder Bremen SV Darmstadt 98

Borussia Dortmund SG Dynamo Dresden

Fortuna Düsseldorf SpVgg Greuther Fürth

Eintracht Frankfurt Hamburger SV

Sport-Club Freiburg Hannover 96

TSG Hoffenheim 1. FC Heidenheim 1846

1. FC Köln Karlsruher SC

RB Leipzig Holstein Kiel

Bayer 04 Leverkusen 1. FC Nürnberg

1. FSV Mainz 05 VfL Osnabrück

Borussia Mönchengladbach FC St. Pauli

FC Bayern München SSV Jahn Regensburg

SC Paderborn 07 SV Sandhausen

FC Schalke 04 VfB Stuttgart

VfL Wolfsburg SV Wehen Wiesbaden DFL Deutsche Fußball Liga Guiollettstraße 44–46 D-60325 Frankfurt/Main Germany T +49 69 65005-0 F +49 69 65005-557 E [email protected] W dfl.de